Banks consider global Libor deal as costs of scandal rise

The more we learn about the manipulation of the London interbank offered rate (Libor), the more expensive the scandal becomes for the financial institutions involved. If banks want to control the damage, they would do well to come clean sooner rather than later about the full extent and effect of their misbehaviour.

Recent revelations about misdeeds at Barclays, Royal Bank of Scotland, and UBS - only three of more than a dozen banks under investigation - are enough to keep lawyers and courts busy for years.

via Business feed http://www.scmp.com/business/banking-finance/article/1141462/banks-consider-global-libor-deal-costs-scandal-rise